What is your Audience Worth?

23 Apr

Facebook filed an amendment to their S-1, and according to Tech Cruch, each Facebook user is worth an average of $1.21 a quarter.  As they go public, their goal will be to increase the value that each user has.  They won’t necessarily be able to rely on rapid user growth and will need to find innovative ways of continuing to grow the company’s product options.

But what does this have to do with anyone outside of Facebook?

The answer is simple- your site is only as good as it’s product offering.  That Facebook has a value that is positive for a product it does not charge it’s users for, is indicative of the usefulness of the internet.  If you have a site that provides value- users will follow.  If users grow, your ability to bring in revenue based on these users grow. It’s a fairly symbiotic relationship.  But it’s only useful, in a monetary sense, if you know what your audience wants and who they are.

If you do not know who your audience is, you can’t begin to expect to make money off of your site.  Moreover, life in general, requires that we know our audience.  If there’s one lesson that more and more people should know, it’s exactly how vital your knowledge of your audience is to success.

You may have started your blog with an idea to target a specific region (I’ve spoken with a lot of bloggers about this) and find that when you pull your Google Analytics numbers, that you’ve started to hit a different city altogether.  Or you might think your audience is primarily older young moms, until you run a survey and find out that single women are actually your biggest readers.  In either situation, if you keep blogging for the audience you think you have, rather than the audience you have, you devalue your entire site and the worth of your audience.  Not because they are less valuable- but because you don’t know how to express your audience to the sponsors, ad agencies, and brands you are reaching out to.

It seems like such a simple concept- know your audience, know your worth, just plain and simple- know!   Your site is only going to be as successful as the information you have access to exploit.  This is running theme in every piece of business advice I hear, in every critique of a failing business I read about, and every path for someone to do far better than they currently are.

Part of the reason Facebook has been able to be as successful as they currently are, is that they learned to pivot quickly as they learned about their business.  And they constantly learned about their audience and data value.

And let’s get something straight- value isn’t just a large number of followers, a combine readership of hundreds of thousands of people.  Value can be having 100 great audience members who are also influencers and able to spread your message even further.   It’s about your audiences’ wiliness to actually take action on the message you have presented.  Imagine if you were trying to sell televisions to the Amish- it doesn’t matter if you had ever Amish person in the room- you’d likely fail in the endeavor.

Know your audience, know your value!

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: